Overview
Mayer Brown has one of the leading ERISA Fiduciary practices in the US, advising fiduciaries on ERISA aspects of investments, regulatory compliance, risk management, enforcement and defense of fiduciary challenges. Our lawyers assist with the structuring and operation of complex institutional investment funds and products. They advise fiduciaries on the ERISA aspects of investments and transactions and on ERISA compliance, risk management, enforcement and regulatory matters, and defend them against fiduciary challenges in the courts.
Experience
Mayer Brown’s ERISA Fiduciary lawyers have significant experience in the following areas:
Fiduciary Advice on Trustee and Investment Matters
As part of the ERISA Fiduciary group’s representation of investment plan fiduciaries, advisers and trustees, the group advises financial institutions on the investment of fiduciary assets in affiliated funds and products and non-US managers on the coordination of ERISA requirements with the applicable local regulations. Our group also advises on: compliance with the Department of Labor’s fee and gift disclosure requirements; the impact of the Department of Labor’s proposed expansion of the definition of fiduciary under ERISA; potential fiduciary disqualifications; management of conflicts under ERISA, including use of independent fiduciaries; compliance with prohibited transaction exemptions and reporting and correction of prohibited transactions; fiduciary considerations for ESOPs and employer stock funds; ERISA limitations on fees, expense reimbursement, exculpation and indemnification; the structuring of settlements involving ERISA disputes; the documentation of trust, investment management and other fiduciary relationships; the fiduciary duties of directed trustees and independent fiduciaries under a variety of circumstances; and the fiduciary requirements applicable to government plans.
Advice in Connection with Structuring of Institutional Investment Funds
The ERISA Fiduciary group regularly advises real estate, private equity, infrastructure and hedge fund sponsors on the business and legal aspects of structuring investment funds that are targeted to ERISA and governmental pension plans and other institutional investors, including reliance on exceptions to holding ERISA plan assets. Members of our group have extensive experience with respect to advising clients on emerging products and alternative investment vehicles that are designed to meet the needs of defined contribution plan investors; we participate in industry groups focused on such products and frequently speak at industry conferences on developments in this area.
Structuring and Documenting Investment Products
Our group helps structure and negotiate a variety of investment products and transactions, including liability-driven investment arrangements, fund credit facilities, mortgage loans, financial futures, international currency trading, securities lending, repurchase agreements, asset-backed securities, loan participation and international investments.
